The General Data Protection Regulation (GDPR) is a legal framework that sets guidelines for the collection and processing of personal information of individuals within the European Union (EU). GDPR is aimed at protecting the privacy and personal data of EU citizens and giving them more control over their personal information. Failure to comply with GDPR regulations can result in hefty fines, loss of reputation, and legal consequences.
In today’s digital age, where data is generated and exchanged at an unprecedented rate, GDPR compliance has become more critical than ever before. According to DLA Piper’s GDPR Fines and Data Breach Survey 2022, there were over 281,000 reported data breaches across 28 countries in the European Economic Area (EEA), with fines totaling over €523 million. These numbers highlight the significance of GDPR compliance in today’s business world. Organizations must ensure that they collect, process, store, and dispose of personal data in a manner that complies with GDPR regulations to avoid significant legal and financial consequences.
Hyarchis’ GDPR Compliance is an AI-based application that covers the full width of your customer files regardless of the document type, data type or document format, enabling the automatic blur of sensitive personal data in source documents. This innovative solution offers an almost-instant processing time of just a few seconds and an overall accuracy of nearly 100%, all at a fraction of the cost and time of manual review.
What are the benefits of Hyarchis GDPR Compliance?
Hyarchis GDPR Compliance is an advanced solution that can revolutionize the way you can handle your customer documents. Let’s take a look at the main benefits of Hyarchis GDPR Compliance:
- Near 100% accuracy in data recognition is an essential aspect of GDPR compliance. Hyarchis GDPR Compliance ensures that all personal data is accurately identified and classified to comply with GDPR regulations. This minimizes the risk of non-compliance and potential data breaches.
- Suitable for unstructured documents of any file type. Companies need to handle personal data effectively in any document format, including paper records, images, PDFs, and more. Hyarchis’ GDPR Compliance solution can handle unstructured data, helping businesses avoid errors in data recognition and improving compliance with GDPR regulations.
- Fully automated solution. Automated tools can help organizations reduce the risk of human error, ensuring that all personal data is accurately recognized, classified, and processed in line with GDPR requirements. Automation can also reduce the cost and time of compliance, allowing businesses to focus on their core operations while remaining GDPR-compliant.
- Easily comply customer data with relevant legislation. Companies must comply with all relevant legislation concerning customer data, including GDPR or Basel IV regulations. By adopting Hyarchis’ GDPR Compliance solutions, businesses can protect their customers’ privacy, avoid legal consequences, and protect their reputation from the risks associated with non-compliance.
- Provides a secure and compliant solution: Hyarchis Document Recognition complies with ISO 27001, ISO 27018 and SOC 2 Type 2 security standards, ensuring that sensitive information is always properly protected.
What can you use Hyarchis GDPR Compliance for?
Efficient GDPR compliance is critical for many organizations, but it can be time-consuming and may not directly contribute to customer value. At Hyarchis, we understand the need for a streamlined solution. Our automated tool, Hyarchis GDPR Compliance, is part of the KYC remediation suite and can scan unstructured and unsearchable source documents. Using cutting-edge technology, our GDPR compliance feature accurately identifies targeted data points and automatically blurs them out, ensuring compliance with relevant privacy legislation. Here are some of the advantages that Hyarchis GDPR Compliance can provide for your organization:
Incorporating Hyarchis GDPR Compliance solution into a company’s daily operations offers numerous benefits, especially when it comes to reconciling legacy data with relevant privacy legislation. This can be a daunting task, particularly for companies with extensive digital archives that have grown over the years. However, with Hyarchis’ AI-powered tool, GDPR Compliance, companies can scan the entirety of their unstructured and unsearchable source documents, regardless of file type or structure. This solution allows for the automatic identification of targeted data points, such as personal identification numbers, which can then be blurred out to ensure compliance with regulatory requirements while efficiently managing digital archives.
Hyarchis GDPR Compliance revolutionizes the handling of customer documents with near 100% accuracy in data recognition, regardless of the file type, data type, or document format. This fully automated solution is ISO-compliant and can process large quantities of unstructured data, including handwritten or coffee-stained documents. Hyarchis GDPR Compliance provides a secure and compliant solution for organizations, minimizing the risk of non-compliance and potential data breaches while reducing costs and saving time.